Datto Holding Corp. (NYSE:MSP) Receives $33.25 Average Price Target from Analysts

Datto Holding Corp. (NYSE:MSP) has been assigned an average rating of “Buy” from the thirteen ratings firms that are presently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $33.25.

A number of equities analysts recently issued reports on MSP shares. Berenberg Bank started coverage on shares of Datto in a research note on Tuesday, July 27th. They issued a “buy” rating and a $34.00 price target on the stock. Morgan Stanley upped their price target on shares of Datto from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 12th. Zacks Investment Research raised Datto from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Thursday, August 19th. Finally, BMO Capital Markets upped their price target on shares of Datto from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, August 12th.

Shares of NYSE MSP opened at $23.79 on Wednesday. Datto has a 52 week low of $22.30 and a 52 week high of $33.46. The firm’s fifty day moving average is $26.07 and its 200 day moving average is $25.78. The company has a market cap of $3.86 billion and a price-to-earnings ratio of 84.96.

Datto (NYSE:MSP) last released its quarterly earnings results on Tuesday, August 10th. The investment management company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.05. Datto had a net margin of 7.87% and a return on equity of 2.62%. As a group, equities analysts predict that Datto will post 0.31 EPS for the current year.

In other news, insider Michael Glenn Fass sold 17,500 shares of the firm’s stock in a transaction on Thursday, August 26th. The stock was sold at an average price of $25.81, for a total transaction of $451,675.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Austin Williams Mcchord sold 68,708 shares of the firm’s stock in a transaction dated Tuesday, July 20th. The shares were sold at an average price of $27.62, for a total value of $1,897,714.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 288,951 shares of company stock worth $7,809,232. Insiders own 5.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of MSP. Greenvale Capital LLP purchased a new position in shares of Datto in the first quarter worth about $49,480,000. TPG Group Holdings SBS Advisors Inc. purchased a new position in Datto during the first quarter valued at approximately $32,867,000. UBS Asset Management Americas Inc. purchased a new position in Datto during the first quarter valued at approximately $14,997,000. Franklin Resources Inc. raised its position in Datto by 43.5% during the first quarter. Franklin Resources Inc. now owns 1,948,265 shares of the investment management company’s stock valued at $44,635,000 after acquiring an additional 590,890 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC purchased a new position in Datto during the second quarter valued at approximately $15,563,000. 86.43% of the stock is owned by institutional investors and hedge funds.

About Datto

Datto Holding Corp. provides cloud-based software and technology solutions for delivery through the managed service provider (MSP) channel to small and medium businesses in the United States and internationally. Its Unified Continuity products include Business Continuity and Disaster Recovery that protects servers and workstations, and minimize downtime; Cloud Continuity, an image-based continuity solution for Windows-based laptops and desktops; SaaS Protection, an automated and secure backup and restoration product; Workplace, a cloud-hosted file sync and share solution, which enable end-users to synchronize files across platforms, including mobile devices; and File Protection, an MSP-managed secure and scalable backup product that enables MSPs to protect and recover files and folders on workstations and laptops.

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Analyst Recommendations for Datto (NYSE:MSP)

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